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Texas Public Utility Commission lowers max rate for energy

During the February winter storms, the megawatt per hour price paid rose to $9,000. On Tuesday, commissioners approved the new ceiling at $5,000.

AUSTIN, Texas — Commissioners with the Public Utility Commission of Texas (PUC) on Tuesday lowered the maximum amount of money consumers will pay for power.

During the February winter storms, the megawatt per hour price paid rose to $9,000. To compare, energy prices for Texas averaged $22 per megawatt-hour in 2020, with lower rates during the winter.

As a result of the winter storm’s price surge, power customers were left on the hook to pay.

The U.S. Energy Information Administration shows that, “The commercial and industrial sectors in Texas saw the largest percentage increase in average electricity bills. The average commercial bill was almost twice as much in February 2021 ($1,050) as it was in February 2020 ($541). The average industrial bill rose from $1,976 in 2020 to $3,385 in 2021, a 71% increase. Residential bills increased by a relatively moderate 17% and averaged $134 in February 2021 compared with $115 in February 2020.”

Some Texans received bills for thousands of dollars.

On Tuesday, the PUC lowered the max rate to $5,000 when power becomes scarce.

WATCH: Report: Texas natural gas system not winter-ready

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